I understand that refinance costs are expenses, but TT gives me a list of specific expense types to enter. Maybe we're looking at different versions of TT, but I don't have a series of expense screens. When I enter the section titled "[Address] Rental Property Info", I see an income section and an expense section. The existing expenses are:
-Real estate taxes
-Insurance premiums
-Cleaning/maintenance
-Mortgage interest
-Management fees
I've already entered the mortgage interest from the new loan. I'm trying to find how to enter the fees related to getting the new loan. At the bottom, there's a button labeled "Add expense or asset". When I click that, I get the following list of specific expenses I can add:
-Other taxes
-Mortgage insurance
-Utilities
-Supplies
-Vehicle
-Professional and legal fees
-Advertising
-Commissions
-Travel (not auto)
-Other interest
-Miscellaneous (examples include mortgage points)
I could just stick everything into "miscellaneous", but when I originally answered the "did you refinance?" question, TT presented me with a list of many refinance-specific cost categories. I'd like to get back to that page. I believe there are some subtleties in which expenses are deducted immediately and which are amortized over the life of the loan. I'd like to enter the expenses in the applicable categories so TT will do that calculation for me and remember which expenses are amortized in future years. There must be a way to get back to the specific page for refinance expenses. But if I click "continue" at the bottom of the "Add expense or asset" page, it just takes me back where I started.
